Work Service Share Discussion Threads

[topvest] 28/9/2018 19:50

Nothing much of interest in the results really. Same old story of mediocrity.

[arthur_lame_stocks] 02/6/2018 11:34

I was considering LFI a while ago but I still think that the whole shebang is providing a nice lifestyle for some while delivering not much for the rest.

[topvest] 01/6/2018 18:37

New Board members, was an interesting move for WSE.

Tudor Rose International accounts have also just been filed at Companies House for 2017. Mildly encouraging with some revenue growth and EBITDA doubled to £400k. Outlook is also upbeat. This investment is maybe starting to recover.

[russman] 21/2/2018 09:33

I am surprised Warwick Hugh Marshall has not been appointed to the BoD yet.

[russman] 18/12/2017 11:03

Only just noticed Robotham has retired.
Marshall & Hall are "mature".
Beale should tender to buy in the small shareholders i.e <1000 shares.
There are hundreds of them; admin must be a nightmare.

[topvest] 22/11/2017 21:26

Yes, agreed. Nice bonus. Don't like the sector, but seem to be doing OK.

[russman] 21/11/2017 09:16

Bilby figures were better than expected.

[oooff] 30/10/2017 19:10

Swallowfield tipped by Midas in Daily mail newspapers website thisismoney as a growth share.
George Sauron Soros has apparently bought into Swallowfield.

[russman] 25/10/2017 09:30

Not sure what the trigger for WSE restructuring will be.
Maybe if LFI disposes of FIN.
Don't like the General P either; just too boring.

[topvest] 21/10/2017 15:12

Discount is very large again with NAV of 95p. Looks like WSE are financing Tudor Rose rather than using bank loans and invoice discounting. Not a bad way of generating some income, provided Tudor Rose does OK. Tudor Rose seems to have done better in the last 6 months or so, but always a bit nervous on this. Tudor Rose should really be repaying its debt as its not a capital intensive business. Seems to be treading water really over the medium term which isn't good enough.

Trouble is with WSE is that their investments are never really firing on all cylinders. Swallowfield is really doing well and surpassed expectations. Northbridge, Bilby and Tudor Rose are somewhat ailing, but will hopefully bounce back at some stage. In summary, their investments are mediocre rather than stellar. All quiet on the new investment front.

Very much a case of same old WSE. No trigger to BUY. No trigger to sell. Might as well just hold and collect the reasonable dividends.

[russman] 23/2/2017 09:59

Bit of news on Tudor Rose.
No real change to the record.

[oooff] 20/2/2017 18:08

LFI interim results out today. Includes some WSE information.

[smithie6] 04/1/2017 10:55

Im now out of Western.....
Good luck to holders..

& I gave it too many years
..while on the plus side...they didnt go bust..and many micro investment houses have !
----

Fortunately my own inv. performance has been miles better than that achieved by Western, but with many winners and losers along the way.....it's not easy, especially with all the lying directors and accounting scandals on AIM ( but I'm now fairly good at avoiding/spotting those now but you need to see a few imo to learn what to look out for)

[smithie6] 04/1/2017 10:52

..nice to see some critical posts of the bod & LFI bod....often its just me..

Topvest
Agree with yr -ve view on Bilby sector......
I was -ve for the sector before...for ENTU which I picked as a sell around 140p. Valuation was sky high...madness. Paul Scott said buy.
The share price Collapsed.

( as far as I see Bilby customers can just put contracts out to competitive bidding to minimise possible profits
And/or take on some workers in house if they think that wld be cheaper/better. (& I assume they can phps take on cheap Poles or Rumanians)

Although I can see that for big contracts it might limit bidders to big companies.

(Personally I think they liked Bilby due to the high divi policy (then !)
& I guess they got blinded by the 'sell'.
Western/LFI have imo never been good at picking good sectors, & that's vital imho.

[topvest] 03/1/2017 18:20

Think they need to merge with Lonfin as a starter.

[russman] 02/1/2017 10:17

I was looking at the ages of the remaining directors.
I hope that the sad demise of Lloyd focuses their minds on our future.

[topvest] 16/12/2016 21:02

Yes, predictable outcome of their buy and bust strategy. As I said at the start the sector they are in is pants. Always ends up with accounting errors and lack of cash flow from the businesses I have seen. Poor judgement by the WSE board.

[russman] 16/12/2016 09:34

Well FD at Bilby has been given the push.

[topvest] 11/12/2016 15:38

One interesting observation. If they had retained their substantial holding in Treatt plc which they sold in 2007/08 it would now be worth about £5m (5/6 times the amount). Presumably they sold because they couldn't make it a true strategic investment and get on the Board. A very poor decision.

[topvest] 04/12/2016 17:25

Yes, very sad.

[russman] 04/12/2016 09:16

Bit of a shock about Lloyd.
Considering his age, I thought he was the heir.

[topvest] 02/11/2016 18:50

They shouldn't have got involved with Bilby as I've said a few times. However good the company and management team might be, it's an awful sector and easy to lose your shirt. I've been involved with a couple of companies in this sector and it's always truly awful.

[russman] 02/11/2016 09:58

Bilby may be a longer term investment than WSE had hoped.

[russman] 04/10/2016 10:31

SWL up, Bilby down. At 30/9 85p NAV is about right.
No point complaining; LFI/WSE never listen.
I might go to the AGM this year; charming but ignorant of small shareholders.
Nice coffee & biscuits.

[topvest] 03/10/2016 21:36

Probably - suspect that's why they were forced to issue the LFI announcement. Doesn't really matter on PLUS as you can't really trade the shares anyway unless you are a distressed seller. They really do need to get their act together as this is just embarrassing. A school kid could do a better job. Absolutely zippo of any use in their announcements.